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Arcana is pioneering web3 accessibility with 100+ partners and 21,000+ SDK downloads, driven by its unique chain abstraction solution.
Arcana, a network committed to making web3 more accessible, consistently stands out with its tools that empower the developers of the future. With over a hundred partners and more than 21,000 SDK downloads, Arcana has enabled the creation of more than 2,000 applications.
A notable application is its chain abstraction solution, a user-centric protocol that eliminates the need to deal with multiple assets and gas fees across hundreds and thousands of blockchains today.
So, what is it that sets Arcana’s Modular Layer-1 for abstraction apart from its peers in the space? What problems does it solve? Let’s explore.
Addressing inefficiencies in UX, DevEx, and capital
Arcana’s Modular Layer 1 stands robust against the prevailing challenge of fragmented UX and liquidity caused by the proliferation of chains and the presence of a dozen layer 2s and layer 3s in the EVM ecosystem, all competing for users and liquidity.
Fragmentation in UX leads to a cumbersome mix of efforts to accomplish even the simplest of tasks. For instance, experimenting with an app involves a combination of transfers, bridges, swap transactions, and new gas tokens. Arcana’s chain abstractions make the UX unified, negating the need to switch or add chains and hold gas tokens for a specific chain.
Not only can the user instantly spend this balance on any chain, but they can also use any wallet they prefer without needing to learn about multiple wallets or a new wallet each time.
For developers, the proliferation of chains presents a problem different from the users. Chains compete to expand their user base and liquidity through various incentives, while apps vie for users by building clones of their apps across chains. This lack of interoperability, combined with the highly proliferated setup, leads to inefficient workflows and increased fragmentation.
The Arcana chain abstraction solution simplifies this for the developers by empowering them with a set-up where they do not need to chase liquidity and users on different chains. Neither do they face high-effort, high-commitment integration needs. They can choose chains based on tech and business requirements. Users on the receiving end of the service spectrum do not need to bridge and can use the app smoothly and seamlessly.
Finally, the chain abstraction solution also makes the process capital and liquidity efficient by minimizing the gas and time spent bridging already available funds. Arcana’s approach prioritizes utilizing the existing liquidity on the user’s target chain and performs netting before rebalancing to improve capital efficiency. It distributes the gains to all stakeholders and generates real yield for all the token holders and LPs/solvers.
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The Arcana modular layer 1: The supremely enabling infrastructure
The benefits that Arcana’s chain abstraction offers in this crowded ecosystem of L1s, L2s, L3s, Rollups, Appchains, and Sidechains are drawn from the chain’s structural qualities. These qualities stem from a decentralized node network capable of tracking and maintaining the state of each user account and presenting the unified balance of the user account across chains.
Its distributed key generation mechanism, where multiple nodes are responsible for creating and storing key shards, empowers decentralization and ensures that there are no central points of failure. Moreover, a multi-party computing scheme capable of performing conditional threshold checks ensures that the process is free of glitches.
Altogether, Arcana’s chain abstraction is a UX and DevEx efficient solution that helps maximize capital utilization and caters to the entire user spectrum of web3 apps, supported chains, and all types of wallets—a win-win for all possible stakeholders.
Read more: IOTA Foundation’s Web3 solution chosen for EU Blockchain Sandbox initiative
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